350K to 800K in 6 years

[devank]

Have a look at this property

I was watching this property. In 2007, a UK resident bought this property 350K. I believe the $$ was lower at that point. Then his needs changed so he decided to sell it after year. Sold it for the same price... but the $$ value was higher so he didn't lose much.
Then an old couple moved it. They started renovating slowly by themselves. I saw them laying bricks around the clad house. I saw them fixing up the gutter. I'm sure they would have done a lot inside as well. I was amazed at their skill, dedication & hard-working.

Now, this house is sold for 800K!!

I'm sure they would have moved to another run-down house somewhere and start all over again. Not a bad way to spend their 'retirement'.

 

[datto]

Probably a retired builder who will flip houses cheaply till his back goes.

 

[Mr. Fabulous]

Then an old couple moved it.

Where'd they move it to?

 

[devank]

Where'd they move it to?

They were living there the whole time.

 

[impala67]

Great result for patience and skill.

 

[Spades]

Surely someones bought it for the configuration:

http://www.realestate.com.au/property-house-nsw-pendle+hill-115779019

Looks like a boarding house and could be chopped up more.

Cheers Spades.

 

[devank]

wow... that is nicely done!

 

[zimby]

Glad I live in Brissy, wouldn't want to be buying a PPOR in Sydney

 

[janglesey]

Great work! That's what I'd like to do when I "retire". Thanks for sharing.

 

[Gockie]

Omg... Western Sydney.... I had a job interview this morning (analytical role at a big bank) and the interviewer started off by telling me how his townhouse in Baulkham Hills has gone up! He only bought in 2012 too! That started a fun discussion. Anyway, his tip: Ermington. Apparently there is a school there that is or will become selective.
I saw Bunnings has just opened a warehouse in Rydalmere so just maybe...
Anyway I felt a rapport with him so I've just sent him a LinkedIn request.
(I am sure I didn't land a job or 2 in the past in other interviews due to the enthusiasm I've shown for property lol)....
Anyway, nice to find someone who shares a wavelength with me.

 

[Scott No Mates]

Ermington, Rydalmere, Dundas, Silverwater are all in that pocket. Silverwater is down market Auburn (probably worth investigating but very small if you don't want to be next to industrial). The other three are all north of the Parra river and are handy to north/south and e/w roads.

 

[REIT]

wow fantastic, the market being what is also didn't hurt

 

[Gockie]

And today.... I overheard some random ladies in the bathroom at work talking about how St Mary's (or was it St Clair? I don't remember) is desirable/expensive, everything's being sold 20-40k more than the "offers over" price.... Crazy hot...